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Homeowner Wants to be Mortgage-Free by 52

Dear Dr. Don,I recently purchased a new home with a 30-year mortgage fixed at 3.375%. I hate the idea of paying for a home for 30 years, not to mention the added interest over time. So, I have begun making monthly payments of an extra $262 toward the principal. This will reduce my loan term to 20 years. I will be 52 when the mortgage is paid off.Do you think it is wise for me to pay off principal rather than invest somewhere else, given my low interest rate? The savings in interest will be something like $44,000 over 20 years. Should I consider stocks, bonds or even more property?Should I apply any extra payments toward my private mortgage insurance, or PMI?I know that once I reach around an 80% mortgage-to-value ratio, I can eliminate my $70 monthly PMI payment. I made a down payment of 10%, and estimate I can apply to have the insurance discontinued in five years. It might be even sooner with the extra payments.Any suggestions about PMI, extra payment toward principal or investing ar...

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